Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by abrdn plc

abrdn plc lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 33.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,233,104 shares of the electric vehicle producer’s stock after acquiring an additional 563,265 shares during the period. Tesla accounts for approximately 1.2% of abrdn plc’s holdings, making the stock its 9th biggest position. abrdn plc owned approximately 0.07% of Tesla worth $554,882,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Mount Vernon Associates Inc. MD raised its holdings in shares of Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after purchasing an additional 350 shares in the last quarter. Oak Ridge Investments LLC increased its stake in shares of Tesla by 4.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after purchasing an additional 1,405 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of Tesla by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after purchasing an additional 25,943 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Tesla by 11.8% during the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after purchasing an additional 81,729 shares during the last quarter. Finally, First National Corp MA ADV grew its stake in Tesla by 30.0% in the 4th quarter. First National Corp MA ADV now owns 1,401 shares of the electric vehicle producer’s stock valued at $348,000 after buying an additional 323 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 1.9 %

Shares of NASDAQ:TSLA traded down $2.88 during trading on Friday, hitting $147.05. 87,074,500 shares of the company’s stock were exchanged, compared to its average volume of 89,857,384. Tesla, Inc. has a 1-year low of $146.22 and a 1-year high of $299.29. The firm has a 50-day moving average price of $178.51 and a two-hundred day moving average price of $211.48. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The firm has a market cap of $468.32 billion, a P/E ratio of 34.12, a PEG ratio of 3.96 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 EPS. Equities analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $298.00 target price on shares of Tesla in a research note on Wednesday, March 27th. Truist Financial lowered their target price on shares of Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a research note on Wednesday, April 3rd. China Renaissance initiated coverage on shares of Tesla in a research note on Monday, February 26th. They issued a “hold” rating on the stock. Finally, KGI Securities reiterated a “neutral” rating and issued a $213.00 target price (down from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Ten analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $194.70.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.